• Starbucks Odyssey released its first limited edition NFT drop, The Siren Collection, which sold out in 18 minutes.
• Members of the Starbucks Odyssey rewards program were able to purchase two Stamps for $100 each.
• Despite some technical issues, secondary sales of the Stamps quickly soared past $550.
Starbucks Odyssey Launches First NFT Drop
Starbucks Odyssey, the company’s Web3 loyalty program, recently released its first limited edition non-fungible tokens (NFT), which it calls „Stamps“. The 2,000-item „Siren Collection“ features a version of the company’s iconic Siren was available to members at a price of $100 per stamp.
Odyssey Beta Program
The program is still in invitation-only beta and allows users to complete activities such as quizzes and in-store purchases to earn Stamps that can be collected or resold on Nifty Gateway. Members were able to buy two stamps each starting at 12 p.m ET and could pay by credit card or by connecting their MetaMask wallet.
Issues With Launch
Despite some initial problems with access and error messages due to an influx of traffic, the collection sold out in 18 minutes and secondary sales quickly soared beyond the original price point. As of this update, the floor price for a Siren Stamp has already passed $550.
Summary Of Results
Despite some technical difficulties during launch, Starbucks Odyssey’s first NFT drop proved highly successful with all 2,000 Stamps selling out within 18 minutes and prices continuing to climb on secondary markets after launch.
The success of this NFT drop indicates that there is high demand for rare digital assets such as these and showcases how brands can leverage blockchain technology to create unique experiences for their customers through loyalty programs like Starbucks Odyssey.